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ZIM Announces Q2 2019 Results

Logistic News - Published on Fri, 23 Aug 2019

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Confronted with tough business environment, ZIM continued to record improvements and to expand its global network to its customers. In September 2018, the Company launched its strategic operational cooperation with the “2M” Alliance, in several lines between Asia and the US East-Coast. During the Q1 of 2019 the cooperation was expanded in two additional trades: Asia - East Mediterranean and Asia - American Pacific Northwest. During the Q2 of 2019, it was agreed between ZIM and the 2M Alliance to further expand the cooperation to the Asia - US Gulf trade. Theses cooperation agreements enable ZIM to provide its customers with improved product portfolio, larger port coverage and better transit time, while generating cost efficiencies.

Financial and Operating Highlights for the Three Months Ended June 30, 2019

1. Total revenues were $834.3 million compared to $803.2 million in Q2 2018, a 3.9% increase

2. ZIM carried 731 thousand TEUs compared to 772 thousand TEUs in Q2 2018, a 5.3% decrease

3. The average freight rate per TEU was $993 compared to $907 in Q2 2018, a 9.5% increase

4. Adjusted EBITDA was $94.4 million compared to $24.3 million in Q2 2018

5. EBITDA was $102.0 million compared to $14.9 million in Q2 2018

6. Adjusted EBIT was $38.7 million compared to negative Adjusted EBIT of $3.1 million in Q2 2018

7. EBIT was USD 44.2 million compared to negative EBIT of $12.5 million in Q2 2018

8. Adjusted net profit was $3.0 million compared to Adjusted net loss of $20.6 million in Q2 2018

9. Net profit was $5.1 million compared to Net loss of $33.2 million in Q2 2018

10. Operating cash flow was USD 64.1 million compared to $52.6 million in Q2 2018

Financial and Operating Highlights for the Six Months Ended June 30, 2019

1. Total revenues were $1,630.5 million compared to $1,554.6 million in 1-6 2018, a 4.9% increase

2. ZIM carried 1,398 thousand TEUs compared to 1,470 thousand TEUs in 1-6 2018, a 4.9% decrease

3. The average freight rate per TEU was $1,005 compared to $922 in 1-6 2018, a 9.0% increase

4. Adjusted EBITDA was $163.7 million compared to $51.9 million in 1-6 2018

5. EBITDA was $170.0 million compared to $37.5 million in 1-6 2018

6. Adjusted EBIT was $60.7 million compared to negative Adjusted EBIT $3.3 million in 1-6 2018

7. EBIT was $62.8 million compared to negative EBIT of $17.7 million in 1-6 2018

8. Adjusted net loss was $14.5 million compared to $46.7 million in 1-6 2018

9. Net loss was $19.2 million compared to $67.3 million in 1-6 2018

10. Operating cash flow was USD 123.8 million compared to $110.5 million in 1-6 2018

Source :

Posted By : Mohan Sharma on Fri, 23 Aug 2019
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